BlueBay euro CLO debut underlines tightening market

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BlueBay euro CLO debut underlines tightening market

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ZORRO - stock.adobe.com

BlueBay Asset Management issued its debut European CLO on Monday, printing the tightest triple-A rated notes since the market restarted after the coronavirus pandemic began, a clear sign of the improvement in credit conditions. The issuer also opted to place a full capital structure down to single-B rated notes, an approach which many managers have shied away from the since the virus struck.

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